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ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT

112 hedge funds and large institutions have $148M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2018 Q3 according to their latest regulatory filings, with 13 funds opening new positions, 15 increasing their positions, 35 reducing their positions, and 31 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more capital invested

Capital invested by funds: $118M → $148M (+$30.1M)

18% more call options, than puts

Call options by funds: $267M | Put options by funds: $226M

1.91% more ownership

Funds ownership: 6.72% → 8.63% (+1.9%)

14% less funds holding

Funds holding: 130 → 112 (-18)

25% less funds holding in top 10

Funds holding in top 10: 4 → 3 (-1)

57% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 35

58% less first-time investments, than exits

New positions opened: 13 | Existing positions closed: 31

Holders
112
Holders Change
-18
Holders Change %
-13.85%
% of All Funds
2.56%
Holding in Top 10
3
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-25%
% of All Funds
0.07%
New
13
Increased
15
Reduced
35
Closed
31
Calls
$267M
Puts
$226M
Net Calls
+$40.8M
Net Calls Change
+$6.65M

Top Buyers

Rank Fund Capital Flow
1
BI
Bramshill Investments
Florida
+$48.6M
2
Citadel Advisors
Citadel Advisors
Florida
+$24.5M
3
GWM
Geneos Wealth Management
Colorado
+$5.06M
4
Bank of Montreal
Bank of Montreal
Ontario, Canada
+$2.81M
5
UBS Group
UBS Group
Switzerland
+$1.96M

Top Sellers

Rank Fund Capital Flow
1
TB
Terril Brothers
Missouri
-$14.7M
2
MVP
Miller Value Partners
Florida
-$8.99M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$6.62M
4
RA
Raffles Associates
New York
-$6.29M
5
Morgan Stanley
Morgan Stanley
New York
-$4.29M
Name Holding Trade Value Shares
Change 		Change in
Stake
RFWA
76
RPg Family Wealth Advisory
Massachusetts
$46K – – –
AWM
77
AllSquare Wealth Management
New York
$38K – – –
SIM
78
Sonora Investment Management
Arizona
$38K – – –
JWM
79
Janiczek Wealth Management
Colorado
$34K – – –
AG
80
Advisor Group
Arizona
$33K -$110K -3,000 -78%
AFIA
81
America First Investment Advisors
Nebraska
$31K – – –
Parallax Volatility Advisers
82
Parallax Volatility Advisers
California
$30K -$124K -3,377 -81%
FGAM
83
Financial Gravity Asset Management
Texas
$30K +$698 +19 +3%
LF
84
Lee Financial
Texas
$27K – – –
FANJ
85
Financial Architects (New Jersey)
New Jersey
$24K -$29.4K -800 -56%
TSW
86
Thompson Siegel & Walmsley
Virginia
$24K – – –
SFG
87
SevenBridge Financial Group
Pennsylvania
$23K – – –
Fifth Third Bancorp
88
Fifth Third Bancorp
Ohio
$22K -$42.1K -1,145 -67%
PNC Financial Services Group
89
PNC Financial Services Group
Pennsylvania
$22K – – –
RFC
90
Regions Financial Corp
Alabama
$20K – – –
S
91
SignatureFD
Georgia
$19K +$18.4K +500 New
CC
92
Cassaday & Co
Virginia
$10K – – –
JCM
93
Jacobi Capital Management
Pennsylvania
$10K – – –
PFO
94
Pathstone Family Office
New Jersey
$9K – – –
SFFS
95
Stonehage Fleming Financial Services
Jersey
$9K – – –
GP
96
Girard Partners
Pennsylvania
$9K +$9.18K +250 New
Wells Fargo
97
Wells Fargo
California
$8K -$7.35K -200 -47%
RE
98
RBC Europe
United Kingdom
$6.02K -$2.13K -58 -27%
TRCT
99
Tower Research Capital (TRC)
New York
$6K +$5.55K +151 +15,100%
HCM
100
Highlander Capital Management
New Jersey
$5K – – –
2 3
4
5 6

TBT Hedge Fund Activity: Q3 2018 in Review

112 of the 4,374 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q3 2018, worth a combined $148M — up 25% from $118M a quarter earlier.

Sellers outnumbered buyers: 31 funds closed out of TBT and 13 opened new positions — a net loss of 18 holders — while 35 trimmed existing stakes and 15 added.

The largest buyer was Bramshill Investments, opening a new position worth an estimated $48.6M. The largest seller was Terril Brothers, exiting entirely with an estimated $14.7M sold.

  • 112 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q3 2018, down from 130 in Q2 2018.
  • Funds reported $148M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q3 2018, up 25% quarter-over-quarter.
  • 13 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q3 2018 and 31 closed out, a net change of -18 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q3 2018 was Bramshill Investments, an estimated $48.6M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q3 2018 was Terril Brothers, an estimated $14.7M sold.

Based on aggregated 13F filings for Q3 2018.